Benchmark indices Sensex and Nifty edged higher in volatile trading on Friday, buoyed by gains in blue-chip stocks such as ICICI Bank and Bharti Airtel. This uptick comes as investors await the US Federal Reserve Chair's speech at the Jackson Hole Symposium, with global market trends mixed.
The 30-share BSE Sensex rose by 33.02 points, or 0.04 per cent, to close at 81,086.21. Earlier in the session, the index fell by 169.93 points, or 0.20 per cent, to a low of 80,883.26 before rebounding to a high of 81,231.49, a gain of 178.3 points or 0.21 per cent, though it gave up some of those gains by the end of trading.
The NSE Nifty inched up by 11.65 points, or 0.05 per cent, to finish at 24,823.15, marking its seventh consecutive session of gains.
Among the Sensex gainers were Tata Motors, Sun Pharmaceutical, Bharti Airtel, Bajaj Finserv, ICICI Bank, Mahindra & Mahindra, and JSW Steel. Conversely, Tech Mahindra, HCL Technologies, Asian Paints, Titan, Infosys, State Bank of India, Tata Consultancy Services, and HDFC Bank lagged.
Vinod Nair, Head of Research at Geojit Financial Services, attributed the market's flat trajectory to mixed global sentiments and anticipation of Fed Chair Jerome Powell's upcoming speech. Investors are closely watching for indications on the future path of interest rates.
European markets posted significant gains during mid-session, while Asian markets were mixed. US stock markets closed lower on Thursday.
Foreign Institutional Investors (FIIs) purchased equities worth ₹1,371.79 crore on Thursday, according to exchange data, while Domestic Institutional Investors (DIIs) bought equities worth ₹2,971.80 crore.
Global oil benchmark Brent crude rose by 1.01 per cent to USD 78 per barrel.
On Thursday, the BSE Sensex gained 147.89 points to close at 81,053.19, extending its gains for the third consecutive day. The NSE Nifty climbed 41.30 points to end at a two-week high of 24,811.50, marking its sixth consecutive session of increases.
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